If that the situation I described above is true, where you bought the property from the tax lien holder, they had started the foreclosure and it completed with no redemption by anybody and you got clear title, AND if the property next door is owned by the same people (now deceased) who previously owned the property you just bought - then you might be able to get the next door property through the tax lien foreclosure process once the 3 full years are up from the date of the first tax lien was issued on that property (assuming you own the oldest lien on that property).The only way to get the property before a tax lien auction is to get the owner to sell.

There are investors looking for exactly the type of situation you describe.

In either case, we had thought they could have been capable to tackle the situation like I described.

The Fondren area seems to be pretty up and coming, I'd be interested to hear your thoughts on investing for buy and hold there, and your Jackson experience in general.I wouldn't describe Fondren as 'up and coming.'

A private money broker company uses a syntax like 40/3 as part of describing an investment loan opportunity.

This is illegal if not done correctly.Russell is correct when he says that what you're describing is brokering without a license which is illegal. 

@Eric Watkins I think what you are describing isn't possible. 

@Grant Waugh I have never heard of something exactly as you describe. 

Like the IRS would care about that LOLMaybe now the OP asking about cons of an LC will be more informed and at least look into it and what you're describing for more protection. 

I know that I am getting less than market value but I don't have to deal with all of the BS I just described.